An analyst, an executive and an engineer walk into a webinar…If you don’t know how this one ends,
you must have missed the How to Succeed in OTT in 2020 live event. In collaboration with leading publication IBC365, Applicaster, BritBox and Ampere Analysis joined forces to share key themes and real-world OTT practices that are generating positive results for media brands of all sizes and all niches.
All the panelists agreed that these three recommendations deliver OTT success over and over again:
1. Own your brand territory & shout about it
According to Rahul Patel (Analyst, Ampere Analysis), media brands must identify the identity or niche of their service in order to stand out in the market. Reemah Sakaan, (Group Director SVOD, ITV and SVP Creative Head, BritBox), validated this through first hand experience of BritBox’s impressive launch and expansion into new markets, citing double growth in the first part of 2020. With a clear mission offering original British content, marketing communications, app UI, and content strategy are all aligned on a single and distinct point of differentiation.
Importantly this needs to be clear across your branded properties. As Simon James, (VP Sales Engineering, Applicaster) added, an unclear or irrelevant app doesn’t provide a good UX, which in turn leads to viewer churn.
2. Bring agility into the core of your operation
Media companies adapt to unexpected market changes, grow their content offering, and plan for an uncertain future via a strategy that embraces fast actions, in turn supported by agile technologies:
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- The COVID disruption closed cinemas worldwide, opening the opportunity for film releases through OTT apps. Both movie distributors and media app owners could react quickly to explore new revenue and engagement opportunities.
- BritBox’s initial launch celebrated British series from the UK’s leading media networks. Then the “Royal Wedding: Prince Harry and Ms. Meghan Markle” provided a stately opportunity for the app to expand to live streaming. Thanks to the brand’s underlying flexible and agile technology, they were ready for the new content format before they even knew they needed it!
- Life after app launch will follow a roadmap, until a disruption forces a detour. Whether this is a halt to new content or an underperforming integrated service provider, your business needs to seamlessly resolve and carry on. An app infrastructure that minimizes the time and resources required for changes will help media brands keep calm and carry on.
3. Use data to reduce your user churn
Subscriber churn is the primary challenge gathering momentum – thanks to low points of entry for new services, penalty-free exits from subscribed services, and month-to-month service contracts, churn is too easy. But media brands can leverage their user data to combat churn and even drive further growth:
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- Use content engagement data to inform your content strategy, for both acquisitions and new productions; thus your content investment is informed by past successes.
- Use marketing campaign data to refine your acquisition and retention messaging. Clear and distinct messaging will ensure viewers know your value proposition and brand identity.
- Create a view of your “model user” and align your UI, promotions, and content to drive those “model behaviours.” Your data will show you where you are winning or need to optimize for parameters such as viewing hours per day, device use, and more.
The full online event How to Succeed in OTT in 2020 is available on-demand through IBC365.
